Navigation through the Palk Strait may become a reality soon. A techno-economic feasibility study by Shipping Corporation of India (SCI) has established the viability of the Sethusamudram project, gathering dust for over 100 years.
According to the study, a canal could be opened for smaller vessels by the year-end by carrying out minimal dredging, ports and shipping minister Vedprakash P Goyal told Business Standard.
To increase the draught to seven metres for a 800-metre wide channel Rs 200 crore would be required, Goyal said. Total saving to shipping companies from the project was estimated at Rs 50-60 crore annually, he added.
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The ministry is studying the report submitted last week and is expected to seek Cabinet approval for the project soon.